Everett, Wash. (April 30, 2019) – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Everett I-5 Mini Storage, an 83,315-square foot self-storage facility located in Everett, Washington. According to Joel Deis, Regional Manager of the firm’s Seattle office and the National Director of the National Self-Storage Group, the facility closed at full list price. It sold at $10,250,000, representing approximately $123 per rentable square foot.
Christopher R. Secreto, Senior Vice President Investments at the firm’s Seattle office and a Senior Director of the National Self-Storage Group, had the exclusive listing to market the property on behalf of the seller, a local partnership. The buyer was an out-of-state regional investment group and was also secured by Secreto.
Everett I-5 Mini Storage is located at 13100 4th Avenue West in Everett, Washington just off Interstate 5. The facility sits on one tax parcel totaling 5.48 acres featuring 782 self storage units, plus 14 covered and 13 uncovered RV/vehicle parking spaces. The Facility was built in 1986.
“Everett I-5 Mini Storage attracted multiple offers and generated a highly-competitive bidding process,” says Secreto. “Buyers were attracted to the Facility’s proximity to major employment hubs such as The Boeing Company’s Everett manufacturing plant and the Port of Everett, both of which are driving housing and self storage demand.”
The Facility serves Everett and Snohomish County as a convenient self storage facility with a wide variety of unit sizes.#About Marcus & Millichap (NYSE: MMI)
With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2018 with a value of approximately $46.3 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com